Online marketplace Snapdeal has shut down Exclusively.com, the premium and luxury portal it acquired last year, and is also believed to be in the process of undertaking a strategic review of its investments made by it over the last two years. The Exclusively.in website had been processing around 150-200 orders per day with an average purchase size of about Rs 12,000-20,000, the report added. Snapdeal is reportedly merging the entire catalogue of products under Exclusively with its Fashion and Apparel category and will integrate the latter’s catalogue with itself, about 18 months after acquiring the premium branded fashion and lifestyle products marketplace, the company said in a statement.
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While the company’s spokesperson has not specified that the company has shut down operations of Exclusively.com, but said that the integration has been completed. It is also home to a large number of leading premium brands like Vera Moda, FCUK, Biba, AND, WLS, Being Human, UCB, Puma, Clarks, Fabindia, etc.
Snapdeal is one of the largest online marketplaces, with the widest assortment of 35 million-plus products across 800 plus diverse categories from over 125,000 regional, national, and global brands and retailers. The website will be kept live for another 30-60 days but will not allow users to buy products; traffic will be directed to Snapdeal’s website. “The rest have a small share, and I don’t think there was much benefit in continuing to operate a business like Exclusively.com”, Satish Meena, forecast analyst at Forrester Research.
Snapdeal acquired online fashion retailer Exclusively.com for an undisclosed amount in February 2015.
According to a report released by Google and AT Kearney in June, the broader lifestyle category will contribute 35 per cent to overall online spends in the country, thereby overtaking consumer electronics as the largest online category by 2020. Exclusively back then was a fashion flash sales site. The marketplace was acquired by Snapdeal previous year and was reportedly not seeing much of a traction. In July, Snapdeal was in race to acquire online fashion retailer Jabong before the deal was clinched by bigger rival Flipkart.
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Founded in 2010 by Sunjay Guleria and Mohini Boparai Guleria, Exclusively was sold to Myntra in 2012.
